AI to play a greater role in Financial Services in 2020

The UK financial services (FS) industry is facing a number of challenges right now and could be said to be in a state of flux. The seemingly never-ending uncertainty over Brexit has been compounded by continued disruption in the market. New competitors and Big Tech brands are reinventing services and using the latest technology to steal market share away from traditional FS providers. Rising customer expectations are also putting pressure on banks and other FS firms to create simpler, more intuitive, and customised products and experiences. Those that fail to respond to these evolving needs risk losing customers, especially now that it's easier than ever for consumers to switch providers.